Asia Capital Group

What Asia Capital Group does

Asia Capital Group Public Company Limited (ACAP) is a Thailand-based, MAI-listed financial services group founded in 1998 in Bangkok. Historically it operated as an independent advisor in corporate finance, debt restructuring, M&A advisory, and business rehabilitation, with a cumulative track record of advising over THB 220 billion (USD 7.1 billion) in transactions through its ACAP Corporate Services (ACS) subsidiary. The group also provided non-performing loan (NPL) portfolio management, valuation, and asset management services to creditors, and at its peak managed over THB 1,200 million in assets and a USD 70 million Malaysian NPL portfolio.

Following a 2015 leadership transition in which founder Dr. Vivat Vithoontien departed and the company sold its investment banking subsidiary, ACAP repositioned itself as a collateralized lender and business process outsourcer. Current operations center on corporate lending (large, mid-sized, and small business borrowers; loans above THB 300M, 50-300M, and below THB 50M respectively), retail lending through Vendor Programs (including prepaid airtime loans), business process outsourcing via subsidiary Global Service Center (GSC) — covering call center, debt collection, loan approval, payroll, and data entry for telecom, banking, and aviation clients — and asset management/NPL servicing. The group also retains legal advisory through ACAP Consulting and operates Aurum Capital Advisory in Singapore.

The business is a multi-subsidiary holding company with paid-up capital of THB 125 million (~USD 4 million) and a headcount in the 51-100 range, listed on Thailand's MAI exchange under ticker ACAP. Revenue is generated from advisory fees, interest income on loans, asset management fees on managed NPL portfolios, and BPO service fees, distributed primarily through direct enterprise sales and partner/vendor channels in Thailand and selectively in Malaysia and Singapore.

Name

Asia Capital Group

Legal name

Asia Capital Group Public Company Limited

Website

https://acap.co.th

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

51–100 employees

Short description

Asia Capital Group (ACAP) is a Thailand-listed, Bangkok-based financial services group offering collateralized corporate and retail lending, NPL portfolio servicing, business process outsourcing, and legal advisory to enterprise clients across Thailand and Southeast Asia.

Ownership category

akta.pro rank

Product category

Financial Advisory and Asset Management

NAICS

Commercial Banking (522110), Portfolio Management and Investment Advice (52394), Other Financial Investment Activities (5239)

SIC

Miscellaneous Business Credit Institution (6159), Investment Advice (6282)

akta.pro primary industry

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

akta.pro secondary industries

SME Term Loans & Growth Capital (FSAKAGAB), Non-Performing Loan (NPL) / Loan Portfolio Acquisition Funds (FSANAKAG), Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Financial advisory services
• Non-performing loan servicing
• Corporate lending services
• Business process outsourcing
• Legal advisory services

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Financial Advisory & Investment Banking: Advisory fees from corporate finance, debt restructuring, M&A advisory, and capital acquisition services. ACS has successfully advised over 174 billion baht in transactions.
2. Corporate Lending: Interest income from business loans and corporate lending, including secured loans for working capital and liquidity support to business clients.
3. Asset Management: Fees from managing non-performing loan portfolios on behalf of client creditors, including NPL servicing, administration, and asset collateral management.
4. Business Process Outsourcing: Revenue from providing BPO services including call center, debt collection, loan approval processing, payroll services, and data entry to external companies.
5. Legal Advisory Services: Legal advisory fees covering business law, real estate law, civil law, bankruptcy law, tax law, and public sector relations through subsidiary ACAP Consulting.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Asia Capital Group is a Thai-listed financial services holding company that delivers integrated financial advisory and investment banking, non-performing loan (NPL) asset management and servicing, legal advisory, corporate and retail lending, and business process outsourcing (call center, debt collection, loan approval, payroll) through its subsidiaries. Its core revenue-generating activities center on NPL portfolio servicing, secured corporate and vendor-program retail lending, and outsourced receivables management for financial institutions and large enterprises.

Product overview

Asia Capital Group (ACAP) is a Thai financial services group listed on the MAI (ticker: ACAP) offering an integrated portfolio of advisory, asset management, legal, outsourcing, and lending services. The core products include Financial Advisory & Investment Banking (via ACAP Corporate Services), Asset Management / NPL Servicing, Legal Advisory (via ACAP Consulting), Business Process Outsourcing (via Global Service Center / GSC), and Lending (via OK Cash). The company also operates regional subsidiaries in Malaysia (ACAP Malaysia), Singapore (Aurum Capital Advisory), and Thailand (ACAP Asia Asset Management). The group positions itself as an independent non-performing loan management and financial advisory leader in Thailand, managing assets of over 1,200 million baht.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Advisory & Investment Banking

Quantifiable outcome

• Over 220 billion baht (USD 7.1 billion) in investment banking and corporate finance transactions advised to date
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• EMSB (Edusync Malaysia Sdn Bhd)coreChannel Partner/ Reseller/ DistributorEMSB appointed ACAP (Malaysia) as the sole authorized service provider to act for and represent EMSB in matters relating to mortgage loans, including enquiries, payment processing, and loan servicing.
• Capital OK Company LimitedcoreOthersCapital OK is a joint venture where ACAP holds 50.99% and ORIX holds 49%, providing personal loans and credit cards across Thailand with over 250 business partners in 1,200 retail outlets.

Scale indicators6 records

Recent moves14 records

Expansion highlights4 records

Regional players

• RAM Asset Management Company Limited: Regional NPL servicer and due diligence provider connected to Thai debt markets; comparable in scope of NPL valuation and management services.

Direct peers

• NgernTidLor (TIDLOR): Thai nano-finance and consumer lending platform that has expanded into adjacent services and competes with ACAP's retail lending business.
• Kiatnakin Phatra Financial Group: Thai financial group combining investment banking advisory (Phatra) with SME and secured lending (Kiatnakin Bank) — a closer-to-scale proxy for ACAP's historical advisory+lending dual model.
• Srisawad Corporation Public Company Limited: Leading Thai NPL buyer and manager, with a lending and debt collection platform that directly overlaps ACAP's NPL servicing and OK Cash retail lending businesses.
• Country Group Securities: Mid-sized Thai investment bank providing corporate finance advisory, comparable to ACAP's historical ACS subsidiary offering.
• TISCO Financial Group: Thai financial advisory and commercial banking group providing corporate finance, lending, and asset management services that compete with ACAP's integrated offerings.
• AEON Credit Service (Thailand): Specialized Thai consumer and retail lender with a Vendor/affiliate retail credit program structure comparable to ACAP/OK Cash's Vendor Program lending.
• JMT Network Services Public Company Limited: Thai debt collection and NPL investor/manager with operational scale comparable to ACAP/PCOL's collection business.

Broad incumbents

• Bangkok Commercial Asset Management (BAM): Thailand's largest dedicated distressed asset management company (former FIDF), comparable to ACAP's asset management business at much larger scale.
• Bank of Thailand (BAMC - Bangkok Asset Management): State-backed NPL resolution entity serving as the largest specialist in Thai distressed asset management, against which private firms like ACAP position their services.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/acap-advisory-pcl

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asia Capital Group